Franklin Resources, Inc. (BEN) CEO Jenny Johnson on Q3 2022 Results - Earnings Call Transcript

Franklin Resources, Inc. (NYSE:BEN) Q3 2022 Earnings Conference Call July 28, 2022 11:00 AM ET

Company Participants

Selene Oh - Head of Investor Relations

Jenny Johnson - President and Chief Executive Officer

Matthew Nicholls - Chief Financial Officer

Adam Spector - Head of Global Distribution

Conference Call Participants

Glenn Schorr - Evercore ISI

Michael Cho - JPmporgan

Alexander Blostein - Goldman Sachs

Patrick Davitt - Autonomous Research

Stephanie Ma - Morgan Stanley

Adam Beatty - UBS

Operator

Welcome to the Franklin Resources Conference Call for the Quarter End June 30, 2022. Hello, my name is Daniel and I'll be your call operator today. As a reminder this conference is being recorded. And at this time, all participants are in a listen-only mode. I would now like to turn the conference over to your host, Selene Oh, Head of Investor Relations for Franklin Resources. You may begin.

Selene Oh

Good morning, and thank you for joining us today to discuss our quarterly results. Statements made on this conference call regarding Franklin Resources Inc., which are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from any future results expressed or implied by such forward-looking statements. These and other risks, uncertainties and other important factors are just described in more detail in Franklin's recent filings with the Securities and Exchange Commission including in the Risk Factors and the MD&A sections of Franklin's most recent Form 10-K and 10-Q filings.

Now, I'd like to turn the call over to Jenny Johnson, our President and Chief Executive Officer.

Jenny Johnson

Thank you, Selene. Hello, everyone and thank you for joining us today to discuss Franklin Templeton's third fiscal quarter results. Matthew Nicholls, our CFO and COO and Adam Spector, our Head of Global Distribution are on the call with me.

Since January, macro economic and geopolitical factors have contributed to global financial markets experiencing a period of volatility not witnessed in decades with substantial drawdowns of both equities and fixed income markets. These declines have challenged investor sentiment and industry flows, particularly in fixed income. Assets under management and flows were impacted by these industry wide pressures. We continue to benefit from a diversified mix of assets. As investors look to reposition their portfolios, we've seen interest in our alternatives and multi-asset strategies, which both experienced strong net inflows during the quarter. In addition, notwithstanding flow pressures in fixed income, investor interest remains robust across the asset class.